Friday(Jan 14, 2011)Market is correcting today, can we still trade?

At the point of writing, it is 3:49 pm, the marketing is correcting. Can we still buy or rather can we still trade?

Trading is about buy low and sell high. This is in the stock market. If you can sell short, you can sell high and buy low.

Tebrau(1589) was 99 sen this morning, now it is 0.92. Market is always fluctuating.

Jaks moved to 82 this morning and later came down, still positive. It is priced at 0.795 at 3:53pm

PChem(5183) is priced at 6.14.

I was watching GPacket(0082). This stock jumped up yesterday. Today it came down
to 0.80. I was thinking of buying yesterday because it is in my explorer list. However, I thought it it might come down because of the quick jump. True enough, this morning, it came down to as low as 80 cents. I thought it might break the 80 cents level, but it did not. It just came back at 3:48pm recorded a price of 0.835.
Well, we have to think fast and act fast.

Look at the greenpacket chart, there is a doji yesterday. This is a bearish sign, no wonder today came down.


If I were to buy 20,000 at 80 cents and sell it at 0.835, I would have made RM 459.00, just half a day's work.

Salcon(8567) came back to my explorer's list. I saw a doji for yesterday's chart formation. To me, this stock will perform soon. At 4:12pm, it is priced at 0.72. Today's price range is from 0.72 to 0.745, most are done at 0.73. If this stock continued to move, it will challenge the 0.89 price level.

Ynhprop(3158) has moved to 1.84. At 4:15pm, it is priced at 1.82.

Dufu(7233) is trying to break the resistance price of 0.455 but did not manage. Maybe later, maybe Monday. Price takes time to move.

Takaso(7071) is also trying to break 0.39 resistance but came back to 0.38 because the overall market sentiment is no good.

Redtone(0032) is still in the consolidating stage. It might move next week.

Thursday(Jan 13, 2011)--Market is still at the lower liners

The market is still concentrating on the lower liners. Look at today top 10 counters， namely Kbunai(3115),Compugt(5037),Daya(0091),Bornoil(7036),Saag(9652),
Tebrau(1589),Scomi(7158),HWGB(9601),Ramunia(7206)and Mixbiz(9733).

Kbunai, Daya, Bornoil, Tebrau, Scomi, HWGB and Ramunia came into my explorer list.

Explorer is a important feature in Meta Stock where you need to spend a few minutes to scan thru 2000 counters and pick up potential stocks. It is just amazing. However, you need to put in proper formulae.

I don't like stock that are too hot. I am still watching Salcon(8567), Ynhprop(3158),Redtone(0032), Takaso(7071.

I put Dufu(7233) back in to my watch list because it came out in the 6 day moving average explorer's list.

At 12:12pm, Salcon is price at 0.725. It dropped to 0.715 and came back to 0.73 at one time. I think someone is watching this stock because there were a lot of buyers at 0.715 which is a strong support.

Takaso was quite cold this morning. At 12:20 pm, it is priced at 0.375. It came back to my 6 day moving average list today. Yesterday candle stick chart showed white candle, bullish sign. 14 day RSI also turned up recorded at 47.82.

Someone is still collecting at this level.

Ynhprop is priced at 1.79 at 12:30pm. Someone is playing this stock because there were heavy trading at 10:16 am. It seems to me that some players are doing a roll over at 1.70, 1.71, 1.72 and 1.73.

You need to trade this stock or you need to buy and keep and wait for the right price to dispose. It is your choice.

Redtone is priced at 0.21 at 12:30pm. All the penny stocks are moving. This one may be next in line.

Redtone's recent high was 0.24 at Nov 4, 2010. After 38 trading days of correction, it started to show a reversal sign on Jan 3, 2011.

If you were to buy 100,000 shares at 0.21 and sell at 0.22, you could make RM 684.10 or if you hold a little longer to wait for the 0.24 to appear, you could make RM 2669.50. Can you take this risk? Think of the risk first, don't think of the gain.

Dufu is priced at 0.45 at 12:30pm. Today's low is 0.44 and the high is 0.455. It might challenged the high of 0.485 achieved on Nov 8, 2010.

14 day RSI is recorded at 62.49 and is still heading upwards yesterday.

Sunway(4308) is the next in line and follow by...

Meta stock is working. I saw Supermx(7106) appearing on my explorer's list which shows a reversal. I was telling my client to buy at 4.20. The low was 4.16 this morning. I had wanted to buy but because it is a high price stock, I am hesitated. Before I could think further, it has moved to 4.39.

I spotted many counters like MMCcorp(2194) and it has moved to 3.11 this morning.

KPS(5843) also moved to 1.52 this morning.

I loved it. If all I spotted can just moved in one or two days' time, Meta stock will be like an ATM cards to me.

P&O(6009) appeared on my list yesterday. It moved to 0.96 this morning.

3A(0012) was under my surveillance yesterday. It moved to 1.79 this morning. If I can be right most of the time, I can turn into a trader instead of a broker.

I was watching JAKS(4723) the other day and Jaks moved to top 10 today.

HWGB(9601) was in my list a few days ago. Today it has moved to top 10 counters.

DRBHCOM(1619) was also in my list. Remember I said I saw a doji in DRBHCOM and I thought it will have a correction. I think there was some correction and after that it moved to positive territory very fast.

I am watching Sunway(4308), Takaso(7071), Dufu(7233), Zhulian(5131) and HSL(6238).

Whether I buy or not is not important to you. But the fact that if I spotted them and if I said they will move in one or two days's time and they did, that itself is an achievement to me. That means my foresight is as good as my hindsight.

This is my trading and monitoring diary and I hope I can write daily so that I can share with you my thought and I can improve myself.

Please ask your remisier or consult an investment analyst before you buy or sell stocks.

I am a stock broker and I buy and sell shares for my clients and help them to make profit.